Can you pass the no-bid coin test?

Below you will find a dozen screen shots of problem coin lots that a knowledgeable hobbyist would never bid on. Can you identify the issue on the coin, label, flip, or description?

I’ll provide a hint with each sample.

Answers will be provided at the end of the post.

1) “Open Sesame”

2) A Case of Diplopia

3) Design Nation

4) OMG

5) Scarface

6) Trifecta

7) No More Mister

8) A Brief Appearance

9) Buy the Coin

10) Ding It! Call a Plumber!

11) Embezzled!

12) Bandit!

See the answers below, but keep this in mind: Bidding online means “buyer beware.” Sellers can state almost anything they like in an online auction. Often, photos are sub-par. In any case, it’s up to you to know whether to bid.

As I begin my eighth year of Coingrader Capsule, this exercise emphasizes why numismatic knowledge is a requirement if you plan to bid on coins via the Internet in 2018.

Check your answers below. How did you do? Tell us in the comment section!

Answers

1) “Open Sesame” Of course, this is not a complete set of Morgans but a set of Morgan mint marks. The opening bid vastly surpasses worth of raw coins inside, which average MS-63. If you place a bid, you are immediately overpaying by about $600, and that doesn’t include the buyer’s premium and shipping.

2) A Case of Diplopia (double vision): No, there is no doubling here. If the 1916 were doubled at EF-45, the coin would be worth about $21,000. See recent auction prices by clicking here.

3) Design Nation was a pun on NGC flawed “S$1” designation in which the “S” for “silver” is mistaken for the “S” mint mark. See my post on that by clicking here. (Another post will be forthcoming soon on why it is in NGC’s best interest to re-design its label.)

4) OMG: There is no 1921-O Morgan dollar, but if there was one, it might be worth that opening bid.

5) Scarface: It doesn’t matter what the slab says. Use your own eyes and judgment. This coin is damaged in the worst place: Lady Liberty’s cheek.

6) Trifecta: Three flaws here. It was cleaned, stained, and contains a fingerprint.

7) No More Mister. . . Nice Guy. By using the word “nice,” this seller is hyping a damaged, dipped coin worth only its silver content.

8) A Brief Appearance: The obverse isn’t Cameo, with a highlighted finish on Lincoln’s profile. The description is wrong. It’s just a Proof coin. PCGS requires both sides of a coin to have the same desirable finish for a Cameo or Deep Cameo designation. The obverse here just doesn’t make the cut.

9) Buy the Coin. . . Not the label. PCGS gets it wrong, missing a pin scratch pointing directly at Lady Liberty’s nose. This coin should not have been graded (and I hope you are not unfortunate enough to own it).

10) Ding It! Call a Plumber! Two problems here, a rim ding at one o’clock and polyvinyl chloride poisoning (PVC flip). Pipe is also made out of polyvinyl chloride.

11) Embezzled! The coin was removed from a “bezel,” or, a grooved ring to hold jewelry.

12) Bandit! It’s not toning that put that grey stripe across the otherwise beautiful 1937 Texas commemorative. Somebody used a rubber band to fasten it to an album, and the stain resulted in environmental damage.

Coin Update is not a retail website. If you wish to buy a coin or banknote, you should contact a reputable dealer. One of our sponsors (see ads at right and top of page) may also have what you’re looking for, so be sure to check out their websites.

Per policy, we do not advise on the value, authenticity, or rarity of readers’ coins and banknotes. For this kind of assistance, you should contact a reputable dealer, preferably one who’s certified by the American Numismatic Association and/or the Professional Numismatists Guild.

Vulgar and/or abusive comments will not be tolerated. Nor will trolls.

Allegations of fraudulent or criminal activity against a named party, when said activity has not been proven in a court of law, will be removed.

Comments

Greetings Mike,
Thanks for the article. I wouldn’t have bought any of them. Some of this I learned from the School of Hard Knocks. If it doesn’t say Cameo on the label, it’s not cameo no matter what the owner says nor how good it looks! The Texas half dollars are so pricey, I wouldn’t buy it even if it didn’t have the black streak. I don’t like the speckles all over it even though I’ve seen them slabbed with that type of “toning” on them. Speckles detract from an otherwise beautiful coin. The one that duped me was the gold $2.5. I didn’t see the bezel marks on it.
Tom

Good examples. I nailed most of them. I think the scariest ones are like that morgan with the pin/staple scratch. Some sellers mess with lighting so it doesnt look so bad, until you see it clearly in person.

Categories

More Recent Articles

The Royal Canadian Mint has launched new collector coins which are in tribute to the comic industry’s most known and loved storylines, the Justice League. Those who make up the super crime-fighting group include: Superman, Batman, Aquaman, Wonder Woman, the Green Lantern, the Flash, and more. The League is portrayed in the same way many fans remember them — […]

(Philadelphia, Pennsylvania) August 8, 2018 — It will be a Philadelphia “homecoming” at the ANA 2018 World’s Fair of Money for one of the finest known surviving examples of a 1794 Flowing Hair silver dollar. It’s also the homecoming for the person exhibiting that historic coin, Silvano DiGenova, President of Tangible Investments, Inc. in Laguna […]

The following Q&A is excerpted from Clifford Mishler’s Coins: Questions & Answers: Q: What is the real story behind “The King of American Coins,” the silver dollars of 1804? A: Proclaimed the “King of American Coins,” the prestigious dollar of 1804 is an impostor. It is known to exist in 15 examples, not a one of […]

The Royal Canadian Mint has launched a new series of coins which cleverly recreate some of the country’s most memorable stamps of the early 20th century relating to national anniversaries or services. The new rectangular-shaped coins, which include a total of three designs, distinctly recreate the look of real postage stamps. Each reverse design is […]

WASHINGTON — The United States Mint will begin accepting orders for the George Washington Presidential Silver Medal (product code S801) and the John Adams Presidential Silver Medal (product code S802) on August 16 at noon Eastern Time (ET). Both medals are priced at $39.95 each. The obverse (heads) of the George Washington Presidential Silver Medal features his portrait as […]

In this second preview article for the various auctions held during the World’s Fair of Money in Philadelphia, PA, this month, we will take a look at some of the highlights of U.S. coinage offered by Stack’s Bowers. Spread out over various sessions, we have decided to limit our preview to the coins offered in […]

The Royal Canadian Mint has released the second design which is part of the mega-coin series entitled “Keepers of the Parliament,” and focuses on the exquisite and impressive sculptures that stand at the main entrance to Canada’s stately Peace Tower building. From atop the Centre Block’s arched entryway, Castor canadensis (the North American beaver) extends a uniquely […]

Display will include previously unknown piece Washington — The United States Mint announced today that it will display three of the nation’s 1933 double eagle gold coins in booth 218 at the American Numismatic Association’s World’s Fair of Money in Philadelphia from August 14 to August 18. The display will feature two of the 10 […]

The World’s Fair of Money, held this year in Philadelphia, PA, is considered the major numismatic event in the United States. This week-long happening attracts collectors and dealers from around the world, and with it come a number of auctions held by various auction companies offering thousands of different numismatic items. In this first preview […]

Santa Ana, CA. — Stack’s Bowers Galleries is pleased to announce that Bruce Smith, a 20-year veteran in numismatics, has joined the company and will be operating out of the firm’s Southern California headquarters. Throughout his career, Mr. Smith has focused on developing portfolios of noteworthy rare coin properties and precious metals for his clients. […]